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Dec 4, 2012
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fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of the year. no formal talks between the two sides are scheduled today. will go outside the nation's capital to get your voice involved. republicans -- democrats -- independents -- send us a tweet, post your comments on facebook, or send us an e-mail. we begin with some of the papers across the country today and how this latest proposal from house republicans is playing out in the papers. courtesy of "the atlantic journal-constitution" -- here is "the denver post" -- finally, here is "of the arizona republic" -- here is "t
fiscal cliff. our guest is republican representative tom cole of oklahoma, a member of the appropriations and budget committee. also joined by georgetown university tax law professor john buckley on how the alternative minimum tax is affecting fiscal negotiations. "washington journal" is next. ♪ ♪ host: 25 days to go before the united states faces the fiscal cliff, the white house has rejected a proposal from house republicans to prevent tax hikes and spending cuts at the end of...
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Dec 6, 2012
12/12
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fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be running for the hills or at least buying portfolio protection to protect themselves against potential disaster. we see the vix very low. they're not taking the type of defensive, decisive action. if we get a downgrade and if this happens, it will be terrible for the market. that's what's potentially on the market, if we don't make a deal in washington. >> scott, let me ask you again how you want to allocate capital then in that environment. i know george young is with us again, joining the conversation. i want to ask you the same question. go ahea
fiscal cliff and all of the other stuff. great story on the front page of wall street journal today talking about portfolio pumping. another example of investors thinking they're not getting a fair shake out of the stock market. >> larry, you call that complacency, don't you? >> that's right. i'm actually shocked that these investors appear to be asleep at the switch in light of the fiscal fiasco looming in less than a month. you would think investors saying their concerns would be...
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Dec 7, 2012
12/12
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. >>> while the debate over the fiscal cliff dominates the headlines, the concern in washington is the middle class. >> the hardest most biggest segment of the population it is supposed to hit if this does happen. delia goncalves is live with more. >> reporter: good morning. absolutely. this is a very complicated issue that seems to just be boiling over without any real compromise, even though we saw some signs of promise a couple of weeks ago. another stalemate here on capitol hill. easily everyone agrees that middle-class families should be spared in this whole situation. they stand to see on average tax increases of $2,000 if congress doesn't take action. so everyone agrees let's spare middle-class families. the only thing that folks are disagreeing on are two other proposals that could possibly solve this fiscal crisis. the first proposal, democrats want to raise taxes on the wealthy 2%. but republicans favor tax reform instead. they say raising taxes on the wealthy could hurt business. the other solution, possible solution involves raising the debt ceiling. president obama advice
. >>> while the debate over the fiscal cliff dominates the headlines, the concern in washington is the middle class. >> the hardest most biggest segment of the population it is supposed to hit if this does happen. delia goncalves is live with more. >> reporter: good morning. absolutely. this is a very complicated issue that seems to just be boiling over without any real compromise, even though we saw some signs of promise a couple of weeks ago. another stalemate here on...
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Dec 7, 2012
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all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind o
all to keep us from going over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at...
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gerri: look, i am no expert on mea bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a lok at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of arners. they pay almost 40%. taking a look at this, the top 5% pay nearly 60%. it doesn't seem quite right. the top 10% -- they pay 71%. federal income taxes, top 10%. picking up almost the entire time. if you wanted to ask her to be more progressive, i don't know, maybe the top 10% pay 90% of taxes. 95%? 100%? i think this whole argument is hogwash. the tax code is not there, but not because the wealthy are not paying enough. but because they pay too much money. everybody needs in the game. if you are part of the system, every time the government as a new federal oversight panel or commissions a study of the effect of exercise o
gerri: look, i am no expert on mea bias, but the media solving the fiscal cliff. the huffington post reporting that the offer to avert disaster sparks gop outrage. "the new york times", the front page story today that the tax code is less progressive than in 1980. back when ronald reagan was president. let's take a lok at federal income tax in this country. these numbers according to the tax foundation. the top 1% pay 37.4%. the top 1% of arners. they pay almost 40%. taking a look at...
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Dec 6, 2012
12/12
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MSNBC
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who do you trust to handle the fiscal cliff? 48% believe
who do you trust to handle the fiscal cliff? 48% believe
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Dec 6, 2012
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our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. ♪ ♪ [ male announcer ] everyone deserves the gift of all day pain relief. this season, discover aleve. all day pain relief with just two pills. this season, discover aleve. restore revive rejuvenate rebuild rebuild rebuild when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as
our fiscal cliff-mas gift today alan smith gets down gangnam style. what the senator is saying about the video that's gone viral watching the daily rundown only on msnbc. u see this? oh, let me guess -- more washington gridlock. no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills....
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Nov 29, 2012
11/12
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KGO
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will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions and millions of americans are lining up to take a chance on a giant dream. a powerball ticket that could be worth more than half a billion dollars. the biggest in its history. the drawing is tonight. and some people have been willing to wait 2 1/2 hours in the long lines in arizona, while coast to coast, tickets are flying across the counters, 130,000 sold every minute. and that adds up to 7 million tickets sold every hour. so, we asked abc's steve osunsami to make his way into the vault where the lottery balls are kept under lock and key and tell us about all the americans hoping tonight is their night. >> rep
will lawmakers send americans off the fiscal cliff with a huge tax increase? the president asks middle class people to help make his case for action. >>> triple threat. three big storms, one after the other, about to pound the west coast. >>> and, made in america. do you want to make a difference, creating american jobs? david muir tonight shows us how to do it together for a happy holiday. >> we're in! >> we're in! >>> good evening. right now, millions...
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Dec 6, 2012
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let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be a shame it if anything happened to it. that's not a threat. look, we have to start looking at what happens if we do, in fact, go over the so-called cliff, and what happens is, you know, one thing is we take a huge bite out of the deficit. we do it in a crude may, and there would be immediate attempts to fix it and fine-tune it and take some back. some would probably get through. if you actually want to look at it from a policy standpoint, it may not be the worst possible option to just go over the cliff and then put back in the tax cuts and the spending increases or renewals that you'd like to put ba
let me play it. >> if there is no agreement, then the fiscal cliff has to be dealt with. i didn't see it if they decent this, we do that. i saw it as a statement of fact. it's not a threat. it's a prediction. if there's no agreement, we go over the cliff. let's hope we can have an agreement. >> what do you make of the way she put it? it's not a threat. she said, listen, these are the facts. >> nice little economy you have there. nice little economy you have there. it would be...
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Dec 6, 2012
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-- off that fiscal cliff. after all, we will go over the cliff and there will be cuts which should gland the hearts of republicans and -- gladden the hearts of republicans and then we will have more revenue which will grand the hearts of democrats. we -- gladden the hearts of dems. we will very likely go back -- democrats. we will very likely go back and elect the same group of people to do the same bad job and then this. the football player from kansas city who killed the mother of his child and then himself, he said bob costas was wrong when he argued that cassandra perkins would still be alive if belcher doesn't have a gun. what next? control on cars? they are used in more homicide than guns. we need to amp up our education on certain freedoms and liberties and put larger penalties on those who abuse them, but nick, that is the point. we don't ban cars because they're potentially dangerous, but there are significant controls on their use and ownership. they're registered, licensed and you have to have train
-- off that fiscal cliff. after all, we will go over the cliff and there will be cuts which should gland the hearts of republicans and -- gladden the hearts of republicans and then we will have more revenue which will grand the hearts of democrats. we -- gladden the hearts of dems. we will very likely go back -- democrats. we will very likely go back and elect the same group of people to do the same bad job and then this. the football player from kansas city who killed the mother of his child...
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Dec 6, 2012
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that's why there's extreme worry about the fiscal cliff. i'm peggy fox. coming up what county leaders are doing to try to stop it. >> reporter: i'm kristin fisher in a maintenance yard for the national park service where a group of 5th graders are learning everything that goes into planning for a presidential inauguration. do they have what it takes? find out coming up. >> and you know, redskins fans are not the only ones in love with rg3. his opponents are in awe, as they should be. we'll hear what ravens head coach john harbaugh is afraid of. wo up with ts horrle sh on right sid iense burni sensaon sd, you hadhickenxe, en yosa, yes, i d.irl. d't think ybody er thinks th're goi get shings. but itappeneto me. r re of the side sry, visit shinesinfoom >>> this sunday will mark the first time in four years the redskins and ravens face off in the regular season. this time there's a whole lot on the line. baltimore is just one win from clinching a playoffs spot while rg3 has the redskins back in the hunt for the postseason. recently i sat down with ravens head
that's why there's extreme worry about the fiscal cliff. i'm peggy fox. coming up what county leaders are doing to try to stop it. >> reporter: i'm kristin fisher in a maintenance yard for the national park service where a group of 5th graders are learning everything that goes into planning for a presidential inauguration. do they have what it takes? find out coming up. >> and you know, redskins fans are not the only ones in love with rg3. his opponents are in awe, as they should...
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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Nov 29, 2012
11/12
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FBC
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>> everyone talks about the fiscal cliff. i referred to it as the fiscal speedbump. no matter what happens, we are not going to revert a tax increase in some kind of drag on economic activity next year. even if there is no grand bargain that we are all talking about, the shrinking of the federal deficit, whether by spending cuts or tax increases, it will be a drag on economic growth for the next few years. dagen: is that what you have 1.63 roughly on the ten year? >> the federal reserve is drunk. while back the fed is distorting the bond work it. dagen: does it make sense that the fed is likely to continue the bond buying into the next year? does that make any sense on the planet? >> well, look, i thought qe1 was absolutely essential. qe2 i understood why we did it. qe3, i do not get it. i think the fed is making a mistake here. they could have achieved the same or even a better objective by following a different policy. this is the path we are on. doctor bernanke is obviously completely preoccupied with the risks of having a depression and he is throwing as much mon
>> everyone talks about the fiscal cliff. i referred to it as the fiscal speedbump. no matter what happens, we are not going to revert a tax increase in some kind of drag on economic activity next year. even if there is no grand bargain that we are all talking about, the shrinking of the federal deficit, whether by spending cuts or tax increases, it will be a drag on economic growth for the next few years. dagen: is that what you have 1.63 roughly on the ten year? >> the federal...
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Dec 6, 2012
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cliff, but also help us avert the yawning fiscal of this ivory for me -- it this goal -- fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the wall street journal," the president is boxing in the republicans. he is offering them a deal they cannot accept. first, the president has repeatedly called for a balanced solution involving both revenue and less spending. what is obvious to the most casual observer is that this plan is not a balanced. the fiscal cliff involves nearly four dollars of anticipated revenue from higher taxes for every dollar of spending cuts, yet the president wants more revenue and fewer spending cuts. if we fell off the cliff, his plan calls for another round of stimulus spending. you have got to be kidding me. lackshe president's plan is any reform in our entitlement system. the unrestrained growth in entitlement system is driving deficits and driving the debt even higher than the percentage of our gdp. it is estimated to be as high as $128 trillion. even i
cliff, but also help us avert the yawning fiscal of this ivory for me -- it this goal -- fiscal abyss. if president obama were to offer such a plan, republicans would act favorably. going over the cliff is unnecessary. as it has been observed in "the wall street journal," the president is boxing in the republicans. he is offering them a deal they cannot accept. first, the president has repeatedly called for a balanced solution involving both revenue and less spending. what is obvious...
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Nov 30, 2012
11/12
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CURRENT
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plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 10 times more protection with each hand wash... and kill 99.9% of germs around the house with each spray... those healthy habits start to add up. this season, a good offense is the best defense and lysol has your family covered because that's our mission for health. (vo) when the clock runs out when the last card is played what will be remembered? explore the lives of the famous and infamous who changed our world forever. experience the drama, back to back to back. of all the hours in all th
plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. ititititititititititititititititititititititititititit before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the...
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Nov 30, 2012
11/12
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CURRENT
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plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. it's thursday night and we are just getting started stick around. >> jennifer: welcome back inside "the war room." i am jennifer granholm. so the election is long over but the vote counting is is not. and as it stands today the president leads by four and a half million votes. and they haven't even finished counting big big blue california. so does that give him a mandate? i would say so. here to help us breakdown how much of his economic plan he can actually get passed, because of that overwhelming margin of victory, is laura tyson she serves on the president's jobs council, she's the former chair of the your honor council of economic advice ores, also current tv's chair and economic analyst. welcome back t
plus what would thomas jefferson do with the fiscal cliff? funny you should and s author john meechum's new biography on the founder father sheds new light on the man and his method and he, john meechum will join us in the war room. and later mitt romney finally got into the white house don't worry, though it was just for a bowl of chili. it's thursday night and we are just getting started stick around. >> jennifer: welcome back inside "the war room." i am jennifer granholm. so...
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Dec 7, 2012
12/12
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WBAL
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a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that would rather create a recession, a mandated economic collapse, let's create a bear market versus rising above. and guess what? these enemies of wealth and job creation may get their way and win. yes, to borrow a phrase from my own rant last time we were on the brink of a washington-inspired financial disaster, they know nothing. shawn in illinois. shawn? >> caller: hello, jim. >> what's up, chief? >> caller: booyah from chicago land. >> done. speak to me. >> caller: i've been watching blizzard for some time now, and i just heard a report that thei
a lot of projects on hold, though, fiscal cliff. yep, the obstacle is washington, all because of the need to sock it to the 2%, not the 1.5% and the over $400,000 crowd, the 1%, or the need to fulfill the anti-tax pledge of allegiance many of our congressmen made to my college chum grover norquist. i thought bill gates and chief justice roberts were powerful. he makes the other guys look like crash dummies. we're on the cusp of an economic boom in this country. but we have politicians that...
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Dec 3, 2012
12/12
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the fiscal cliff is upon us. now we see the two lead office of the report that out there again. -- authors of the report out there again. is the report is getting a new look these days? caller: allyson send an erskine bowles are the with- alan simpson -- alan simpson and erskine bowles are going around the country and speaking. the plan is full of compromises, compromises people do not like, but are necessary if you want to take on the problem. not to say that simpson-bowles has the best ideas. he framework touches all of the budget and it is the kind of framework you need. host: between then and now, what has changed to cause such a strong and serious look at the proposal? guest: thought of it is timing. political timing and economic timing. -- guest: part of it is timing, political timing and economic timing. we have the fiscal cliff facing us and the potential economically serious problems this will cause in terms of economic growth, unemployment and so forth. members of congress want to get something done. th
the fiscal cliff is upon us. now we see the two lead office of the report that out there again. -- authors of the report out there again. is the report is getting a new look these days? caller: allyson send an erskine bowles are the with- alan simpson -- alan simpson and erskine bowles are going around the country and speaking. the plan is full of compromises, compromises people do not like, but are necessary if you want to take on the problem. not to say that simpson-bowles has the best ideas....
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Dec 7, 2012
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this is a 9 news fiscal cliff note. fact, if congress and the white house don't reach an agreement, your paycheck is going to go down. the reason? because the tax withholding in your paycheck is going to increase. here's the back story. the current payroll tax cut is set to expire december 31st. in dollars and cents this means that your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax cuts and emergency unemployment benefits were originally passed on a temporary basis. the thinking was that the economy would be in much better shape by now and the policies could expire without causing a recession. >> you can learn more any time at www.wusa9.com and on 9 news. this has been a 9 news fiscal cliff note. >>> i'm colonel will bourn stationed in kabul afghanistan. i'd like to send out a many are rei christmas to my wife and family and -- merry christmas to my wife and family in northern virginia. >>> we are gearing up for a
this is a 9 news fiscal cliff note. fact, if congress and the white house don't reach an agreement, your paycheck is going to go down. the reason? because the tax withholding in your paycheck is going to increase. here's the back story. the current payroll tax cut is set to expire december 31st. in dollars and cents this means that your payroll tax withholding is going from 4.2% to 6.2%. now why is this happening? many of the policies expiring at the end of the year like the payroll tax cuts...
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Dec 5, 2012
12/12
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that is what is going on with this fiscal cliff. it's time to pay. it's not the republican party's fault. obama has been in office four years. he has doubled to the trillions of dollars in debt. host: are you a tea party supporter? caller: i'm not affiliated with the tea party, but i am tired of hearing them blame it, because i see the hard-working generation that are in their 60s that paid in and they are saying enough is enough, we are tired of you taking it out of our wallets. we are tired of crazy liberal laws being shoved down our throats. our rights are being taken away from us day after day and we are like zombies in this country. host: sumter, south carolina, william, a democrat. we're listening to your thoughts this morning on open phones. caller: i am a new listener and a veteran. i am trying to figure out what's going on. when people see that the fiscal cliff and all this other stuff i am trying to understand, how it came about, it was from all the money being spent on war. and i wanted to mention about the veterans. we are the backbone of
that is what is going on with this fiscal cliff. it's time to pay. it's not the republican party's fault. obama has been in office four years. he has doubled to the trillions of dollars in debt. host: are you a tea party supporter? caller: i'm not affiliated with the tea party, but i am tired of hearing them blame it, because i see the hard-working generation that are in their 60s that paid in and they are saying enough is enough, we are tired of you taking it out of our wallets. we are tired...
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this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great wi
this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and...
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Dec 1, 2012
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a thelma and louise fiscal cliff strategy? i can only imagine. >> reporter: this is another one of the theories you hear. nobody wants it believe, alex, we are actually on the verge of going over this fiscal cliff after everything we've seen in the last several years, all the disagreement, all the partisanship, brinksmanship people can't believe after the election we had these two sides can't come together and agree to avert what everybody thinks will be economic catastrophe. we will go over the fiscal cliff come january 1st, one theory, will make it easier for john boehner and republicans for that matter to vote for higher taxes on the healthy. in other words they would be voting to cut taxes for 98% of americans while allowing them to stay where they are. because remember, after january 1st those bush tax cuts expire. they rise for everybody. again, there are conspiracy theories everywhere. you saw the hardball offer put forward by the white house late in the week on thursday when tim geithner went up to congress and present
a thelma and louise fiscal cliff strategy? i can only imagine. >> reporter: this is another one of the theories you hear. nobody wants it believe, alex, we are actually on the verge of going over this fiscal cliff after everything we've seen in the last several years, all the disagreement, all the partisanship, brinksmanship people can't believe after the election we had these two sides can't come together and agree to avert what everybody thinks will be economic catastrophe. we will go...
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you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we raise taxes to pay for more spending. this will only hurt our economy. ernst and young has done an analysis of the president's proposal and said it will cost several hundreds thousands of jobs. there is a better way and the speaker has laid it out. it is an approach that calls for tax reform by refo
you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a...
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the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday president obama met with a virginia family. tax hikes for the rich are nonnegotiable. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is for families like this one. >> joining me now is barry, msnbc political contributor and editor for grio. hello, guys. >> perry, i'm wondering if these new unemployment numbers add to the president's leverage? >> i think they do. the big thing is the election. but the jobs numbers suggest that the economy is doing well and it cuts
the timing is interesting, obviously, just as we're learning that fiscal cliff negotiations are now a party of two, the president and the speaker. the "new york times" reporting that house speaker john boehner wants to speak only to president obama out of public view. though we've just learned that boehner is holding a news conference at 11:00 this morning eastern time. the fight, though, still very public. vice president joe biden is meeting with a middle class family. and yesterday...
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Dec 1, 2012
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stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian nation. yum operates roughly 5,000 restaurants in china, accounting for half of its total sales. >> susie: joining us now with more on the chinese consumer and the economy, nicholas consonery, asia analyst at the eurasia group. nick we've heard this story before from nike, mcdonald's, tiffany's recently. how serious is this consumer slow-down in china? >>
stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales...
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who do you trust to handle the fiscal cliff? 48% believe president obama and republicans will reach an agreement but 43% say they won't. meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until we did it last year, i will not play that game. >> we should say that the president and house speaker john boehner did speak by phone yesterday. that was the first time in a week. no one is saying what the conversation was about. shortly after that call treasury secretary tim geithner went on cnbc and said the white house is ready to go off the cliff. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on
who do you trust to handle the fiscal cliff? 48% believe president obama and republicans will reach an agreement but 43% say they won't. meantime, president obama is giving a stern warning to republicans who may be trying to use the debt ceiling as leverage. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again as part of a budget negotiation, which by the way we have never done in our history until...
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Dec 7, 2012
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. >>> another big story, avoiding the fiscal cliff. president obama visited a middle class family in fairfax county to pitch his fiscal plan. that is because the average family will see taxes increase $2200 if congress doesn't take action by the end of the year. the president touted the benefits of extending tax breaks on those making $250,000 a year or less while continuing to push for rate increases on wealthier americans. >>> three, two, one! >> very busy for the president. he also put aside the partisan fight over that fiscal cliff for a time last night. joining the rest of the first family in lighting the national christmas tree on the ellipse. this marked the 90th year for the tree lighting ceremony. so pretty to watch and see that. >> you got to at least go down, drive by or something at some point. >> it is fun. >>> u.s. military ships on the move as north korea gets set to launch a rocket. we've got details next. >>> one police department is calling it one of the worst cases of child abuse they have ever investigated. details
. >>> another big story, avoiding the fiscal cliff. president obama visited a middle class family in fairfax county to pitch his fiscal plan. that is because the average family will see taxes increase $2200 if congress doesn't take action by the end of the year. the president touted the benefits of extending tax breaks on those making $250,000 a year or less while continuing to push for rate increases on wealthier americans. >>> three, two, one! >> very busy for the...
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Dec 6, 2012
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and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed political seats. >> tom: you could argue in the three years you've been away from the nbr anchor desk congress hasn't done a lot to address the fiscal situation. >> no it's just ridiculous. i mean these are our elected representatives and they have got to pay a little more attention to those that got them in the office. and they're arguing amongst themselves without much care about the people they represent. >> tom: a lot of those folks are retiree, we have a question from anita asking what is the investing or financial planning lesson paul use most during retirement? >>
and one of our viewers has a question for you about the fiscal cliff. you know all about the back and forth and drama about the fiscal cliff and delores wants your thoughts on where do you stand on this whole fiscal cliff, how will it play out. >> congress better get off its duff and do something. and i think that finally the pressure will be on us. but they always do it right to the last, you know, minute. but i think it's got to happen or they're going to be ousted from their hallowed...
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should we stet the job on the fiscal cliff? >> i could not agree more. felt verydiscouraged the presidet this been more time c campaning thathe did of the begiing of his campaign. we need to have serious negotiations. we need our leaders, and the president was elected by the people. he needs to sit down now and the leader along with ourleaer, the speaker, and talk seriously about these plans. gerri: small busess, big business. the governor. who is lef for t predent to talk to? >> well, we also founthat the president was out at various bunesses encouraging the electric ted send it to it's about what he wants. and that is not the way that you get a negotiation going, byy talking about this andthe public as he has. he needs to sit down with the leaderof the house and the senate and he needs o be the leader on this. we are not seeing it here, and it's very, very discouraging. gerri: o what you torespondto what nancy pelosi had tosay about hostage-ting today. pretty dramatic comments. th is nncy pelosi. >> the republicans are sayg that rather than pasing that
should we stet the job on the fiscal cliff? >> i could not agree more. felt verydiscouraged the presidet this been more time c campaning thathe did of the begiing of his campaign. we need to have serious negotiations. we need our leaders, and the president was elected by the people. he needs to sit down now and the leader along with ourleaer, the speaker, and talk seriously about these plans. gerri: small busess, big business. the governor. who is lef for t predent to talk to? >>...
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Nov 29, 2012
11/12
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we are talking about so-called fiscal cliff issues. today we are looking at the payroll tax cut issue. this will be coming up in just a moment with kim dixon of reuters. here is an update from c-span radio. >> tim geithner and rob neighbors are meeting at the capitol with how to avoid tax increases and spending cuts. stock futures are up on the expectation that progress will be made towards reaching a fiscal agreement. dow features are up over 60 points. lord justice levenson is about to release his report into a phone hacking. the investigation lasted 12 months. the report will make recommendations on future press regulations and is expected to criticize politicians and police. david cameron will be making a statement in response to the report. c-span is covering these events. jay rockefeller is weighing in on this investigation saying that he hoped the report would contain to clear the air and hold the media organizations involved accountable for their deplorable conduct. "i understand the main goal is to make policy recommendations.
we are talking about so-called fiscal cliff issues. today we are looking at the payroll tax cut issue. this will be coming up in just a moment with kim dixon of reuters. here is an update from c-span radio. >> tim geithner and rob neighbors are meeting at the capitol with how to avoid tax increases and spending cuts. stock futures are up on the expectation that progress will be made towards reaching a fiscal agreement. dow features are up over 60 points. lord justice levenson is about to...
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if no agreement is reached on the fiscal cliff. this twenty five minute event took police at the veteran affair offices in washington, d.c. >>> thank you, tommy. first, let me thank secretary panetta for the unwavering support for the here at the va and the men and women who wear and have worn the uniform of the nation. our close partnership with the immediating we had -- meeting we had today on their behalf has never been more important as it is today. as we enter the holiday season i want to thank the men and whoim spend their holiday away from the families defending the nation. we're grateful for their the service and sacrifice. as we have discussed very little what we do here at va -- most of what we work on originated in dodd and that's why achieving our priorities at va requires the close and collaborative working relationship. we have more to do but with president obama's strong support and guidance we have brought the two departments closer together than ever before. we have underwritten joint vad. we began harmonizing our
if no agreement is reached on the fiscal cliff. this twenty five minute event took police at the veteran affair offices in washington, d.c. >>> thank you, tommy. first, let me thank secretary panetta for the unwavering support for the here at the va and the men and women who wear and have worn the uniform of the nation. our close partnership with the immediating we had -- meeting we had today on their behalf has never been more important as it is today. as we enter the holiday season i...
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Dec 6, 2012
12/12
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let's talk fiscal cliff. the median prediction is 1.5 million jobs may be lost next year including 110,000 in the defense industry if lawmakers fail to come up with an agreement soon. let's talk about the rivalry between twitter and facebook. twitter says users are experiencing issues with viewing instagram photographs. facebook looking at purchasing the service, driving traffic to its own website. a 13-year-old girl thinks the classics easy-bake oven should be marketed to boys as well. and wonder bread/host this may have a buyer -- hostess. >> we will talk to you soon. still to come, an online business has turned into a court battle in fairfax county. >> and a boost for those >> president obama has declared d.c. a disaster area, opening up federal money to help cover emergency work and repairs from the storm. and to protect against future disasters. chris christie expected to be in d.c. today pressing for more aid following hurricane sandy. the new jersey governor wants full federal reimbursement for some st
let's talk fiscal cliff. the median prediction is 1.5 million jobs may be lost next year including 110,000 in the defense industry if lawmakers fail to come up with an agreement soon. let's talk about the rivalry between twitter and facebook. twitter says users are experiencing issues with viewing instagram photographs. facebook looking at purchasing the service, driving traffic to its own website. a 13-year-old girl thinks the classics easy-bake oven should be marketed to boys as well. and...
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Dec 6, 2012
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tell me where you stand on fiscal cliff. what's going to happen here, congresswoman? >> well, i am hoping because i'm the kind of person that always worked across the aisle. in fact on my foreign-ones committee, kay granger and i have been called the odd couple, we work well together. i've spoken to hal rodgers, chairman of the appropriations committee, i'm optimist being that we can sit at the table and get these things done. comprehensive tax reform is going to take longer, but we can make sure that the middle class keeps its tax cuts. we can make sure we target some waste. you can have across-the-board cuts. we have to have a very clear plan to cut back on certain areas. we can't cut back on programs that benefit the working and the middle class. we have to make sure our kids are educated. we have to make sure they have health care. but there are places in the bill that we can cut, and we don't want to do it with a sledge hammer. we're wise enough to be able to use a scalpel. so, again, i hope that we can sit together, work something out and do it soon. frankly, th
tell me where you stand on fiscal cliff. what's going to happen here, congresswoman? >> well, i am hoping because i'm the kind of person that always worked across the aisle. in fact on my foreign-ones committee, kay granger and i have been called the odd couple, we work well together. i've spoken to hal rodgers, chairman of the appropriations committee, i'm optimist being that we can sit at the table and get these things done. comprehensive tax reform is going to take longer, but we can...
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every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the two-day chart. with the fiscal cliff fast approaching, naturally it's about time lawmakers took a long recess. >> they're gone today, but will be back tuesday. it meets with small businesses in their district, they will highlight what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he
every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september...
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Nov 30, 2012
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that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to the senate, it went 98-0 against it. no one voted for it. melissa: well, that was kind of a tricky parliamentary issue as well but, i do take issue with one thing, the idea we haven't dealt with entightments. we had two years, a year and a half we debated medicare. we made significant changes in medicare. we just had a campaign which republicans including governor romney time after time after time charged that we had cut $616 billion in spending out of medicare and we reformed the program. we have looking toward new ways t
that is the fiscal cliff. we shouldn't be dealing with other issues that are long term in order to avert the cliff as it were. that is immediate crisis. we have long term situation --. bill: but you know when lawmakers get a little bit of rope, you know, when they get time to think about it and push it off to the next year, it never gets done. this budget proposal, there are many who wonder whether or not even democrats could support it. the last budget that came from the white house went to...
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later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel glickman for hosting me today and giving me a great tour. stand up so everybody can see you, guys. [cheers and applause] there you go. we have a couple of outstanding members of congress here. [cheers and applause] now, i just finished getting a tour of the workshop. i have to say it makes me wish that joel invented this stuff sooner when i was a kid. back then, you couldn't build a roller coaster out of your erector set. i got a chance to meet some of the folks who have been working around the clock to keep up with the christmas rush. that is a good thing. these guys are santa
later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. president obama talked about the so-called fiscal cliff and his proposal to end of the bush tax cuts on those earning more than two and a $50,000. ed -- more than $250,000. ["hail to the chief" plays] please have a seat. have a seat. relax for a second. it is good to see all of you. hello. it is good to be back in pennsylvania. it is good to be right here. i want to thank michael, robert, and the investor, joel...
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Dec 5, 2012
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especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this your chance to fill up your cup before the shares really get percolating? cramer is grinding through the facts next. >>> tomorrow we are going to hear from one of my favorite companies and it is starbucks. having its biennial analyst day. right now it is more than ten points off its high for the year. i think it could mark the beginning of the stock's next big rally. you can follow along at actionalertsplus.com. a service that i do with the street. tomorrow i expect a terrific story. i'll give you a preview. lots of people ask me ho
especially the fiscal cliff. in this grim environment you can find sectors that are holding up better than you might think. poncy says the pull back in retail might be just the moment that you want to pull the trigger to this key sector index. wouldn't that be something? stay with cramer and we will be right back. >> coming up. something is brewing. starbucks has been serving up solid returns. but could concerns about its moving to tea mean it is time to layoff the caffeine or is this...
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fiscal cliff negotiations underway here in washington, d.c. continuing and washington state and colorado celebrating the freedom to smoke pot legally. all of that coming up plus yesterday jim demint from south carolina announced he is resigning from the senate to take over as head of the heritage foundation. >> that's good news for the senate. get rid of that whacko tea partyer but bad news for the heritage foundation, which will now have a reputation as the most extreme of all of of our think tanks welt tell you ideal he is leaving and more. current news update, standing buy in los angeles lease a ferguson. hi, lease a. good morning. >> hey, bi. good morning, everyone. we are awaiting the jobs report this morning out in the next and we are expecting to hear 80,000 jobs created last month. >> that's less than half the jobs we saw in october, but economists are saying don't put too much weight on those numbers. the down turn in growth is likely thanks to hurricane sandy making it near impossible to tell whether hiring is getting better or worse
fiscal cliff negotiations underway here in washington, d.c. continuing and washington state and colorado celebrating the freedom to smoke pot legally. all of that coming up plus yesterday jim demint from south carolina announced he is resigning from the senate to take over as head of the heritage foundation. >> that's good news for the senate. get rid of that whacko tea partyer but bad news for the heritage foundation, which will now have a reputation as the most extreme of all of of our...
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>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to be a two-armed economist because i can't said on the other hand. there's two things that are very important. first of all, credit in commercial real estate is phenomenal. cap rates are really low. so the fact that rates are as low as they are has allowed commercial real estate not to fall into the abyss. if commercial real estate had to refi at high rates, we would have had another problem. the other problem is the fact margins are getting squeezed at these banks. credit quality is better. >> that's where the money comes from. >> yeah, fees. by the way, you can eat thes
>> i contends the fiscal cliff will come to an agreement. it will be temporary in nature, kind of a year type of plan. i think the market has digested a bit that tax rates will go up. it's just a matter of how much spending are we going to cut to make this a market between the democrats and republicans. >> does monetary policy hurt or help the banks? keeping rates as low as they are, it's tough to make a buck the traditional way of lending and spending, right? >> i'm going to...
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Dec 7, 2012
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the latest on the divided negotiations over the fiscal cliff. >> the latest on >> checking our top stories, the see will break ground on a project aimed at keeping a northwest neighborhood and dry. the bloomingdale neighborhood almost always has flooding with major rain storms. one part of the project will be done by 2014. the full plan will not be done until 2022. it will be tough to get around using the metro this weekend. portions of a read, green, and yellow lights will be shut down the track work. a man accused of murdering an arlington a jewelry store owner is expected in court today for a parole hearing. police say a man killed the jewelry store owner back in july. >> more are watching the crisis in syria. there are concerns that bashar assad will use chemical weapons -- there is evidence of the military using -- getting ready to use chemical weapons against the rebel forces. >> as the fighting in syria -- on a, secretary of defense leon panetta said that the latest intelligence raised serious concerns that the syrian president may turn chemical weapons on his own citizens. >> the w
the latest on the divided negotiations over the fiscal cliff. >> the latest on >> checking our top stories, the see will break ground on a project aimed at keeping a northwest neighborhood and dry. the bloomingdale neighborhood almost always has flooding with major rain storms. one part of the project will be done by 2014. the full plan will not be done until 2022. it will be tough to get around using the metro this weekend. portions of a read, green, and yellow lights will be shut...
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cliff with a family in virginia finger-pointing and washington continues and we now know when u.s. senator mark kirk will return to the senate and kate middleton out of the hospital ottawa8k÷ç<Ñlnh@Ñçú;ho>?úuú?úttz@z.ç@o@,npón=kí8+ñ<úpkxmz7p/pípçsúoÑ÷çpefo?÷hoo[.÷úvpop?mvñ-w?[ñ;÷oóñ8é>é?@vzç÷@m p]y>w4?8úú(.ú?lpñrtyd@z@3póé÷úyú,áy0=ipw@ñ@?/;<ó@óp,wúÑ>vi÷ñúkpñpñp?é÷v@%pu@zÑxuk ♪ ♪ ♪ pop goes the world ♪ ♪ it goes something like this ♪ [ female announcer ] pop in a whole new kind of clean with new tide pods... just one removes more stains than the 6 next leading pacs combined. pop in. stand out.president obama meeting with middle-class families to discuss how the fiscal clifton heard them while the gop is accusing the president of wanting to spend more taxpayer dollars he visited a high school english teacher in virginia to talk about how we $2,000 tax hike could hurt the middle class and make it difficult to pay rent and other necessities tax cuts passed during the bush administration will expire by the end of t
cliff with a family in virginia finger-pointing and washington continues and we now know when u.s. senator mark kirk will return to the senate and kate middleton out of the hospital ottawa8k÷ç?úuú?úttz@z.ç@o@,npón=kí8+ñé?@vzç÷@m p]y>w4?8úú(.ú?lpñrtyd@z@3póé÷úyú,áy0=ipw@ñ@?/;vi÷ñúkpñpñp?é÷v@%pu@zÑxuk ♪ ♪ ♪ pop goes the world ♪ ♪ it goes something like this ♪ [ female announcer ] pop in a whole new kind of clean with new tide pods... just one removes...
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Nov 29, 2012
11/12
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the fiscal cliff is getting closer. then on the threat of panic, force through some deal to maintain the status quo for taxes, more spending, more debt. it would be presented to the senate in a way that if it's not adopted immediately, the country will be in great fiscal danger. this process. -- this process needs to be taken out of the shadows. we need public debate, and people would know the facts that are now being hidden from us and hidden from members of congress. we don't know what's going on. the latest article in "politico" today said the deal -- the so-called deal has been negotiated by the speaker of the house and the president, not even harry reid is in the meetings, apparently. certainly not the members of the united states national or the members of the house of representatives -- united states senate or the members of the house of representatives. and if we had a public debate, people would discover that according to the c.b.o. mandatory spending is going to increase -- increase nearly 90% over the next te
the fiscal cliff is getting closer. then on the threat of panic, force through some deal to maintain the status quo for taxes, more spending, more debt. it would be presented to the senate in a way that if it's not adopted immediately, the country will be in great fiscal danger. this process. -- this process needs to be taken out of the shadows. we need public debate, and people would know the facts that are now being hidden from us and hidden from members of congress. we don't know what's...
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Dec 5, 2012
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'ers.e.c.geithneg over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like "curt," "frank" and "direct" m
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, ther there a code of silence the...